Concord Medical incurs higher net loss of CNY140.1m for first six months in 2019

26 August 2019 -

Hospital management company Concord Medical Services Holdings Limited (NYSE:CCM), also an operator of a radiotherapy and diagnostic imaging centre network in China, stated on Friday its net loss of CNY140.1m for the six months ended 30 June 2019.

This marks a decline in earnings when compared with net loss of CNY128.1m in the same period last year.

Both basic and diluted loss per American Depositary Share (ADS) were CNY6.10 in the first half of 2019 versus CNY2.95 in the corresponding period in the prior year.

Total net revenues of CNY99.5m were generated in the first half of 2019, down 5.3% from total net revenues of CNY105.1m in the comparable period last year.

Gross profit of CNY3.1m was recorded in the first half of 2019, a dip of 87.0% over CNY23.9m in the first half of 2018.

Adjusted EBITDA was negative CNY108.3m in the first half of 2019, versus negative adjusted EBITDA of CNY73.3m in the same period last year.